Stock Market Technical Indicators & Analysis
I have put together a comprehensive, new overview of the material I present to my honors students, for my AAII workshop in Virginia on Saturday. People can attend without registering in advance. Google: “AAII Dr. Wish” or click here.
IBD nows sees the market as being in a confirmed up-trend. They have a great track record on calling the market trend. The WishingWealth GMI has signaled “Buy” since June 19. I will present the GMI track record on Saturday.
The indexes held on Wednesday and the short term up-trend looks robust. The 30 day average has turned up for the major indexes, a very positive sign. Since the first day of this up-trend on June 18, the QQQ has advanced only +1.3%, and the QLD has advanced +2.1%. Thus the indexes have not climbed much. However, it looks like these index ETF’s are starting to accelerate. I am adding to my position in QLD. A lot of stocks are breaking out of bases. Check out this monthly chart of VMI, which has broken to an all-time high from a multi-year base. They have an earnings call scheduled for next week.
It looks like critical support levels held on Tuesday. I bought a little QLD and will add to the position if the QQQ continues to advance.